Authority rolls out re-unification drive at the coast region

The Unclaimed Financial Assets Authority (UFAA) has rolled out her first on ground marketing storm and outreach program in three counties at the Coast region.

The campaign, aimed at creating awareness to members of the public on unclaimed financial assets toured Taita Taveta, Kwale and Mombasa counties in 5-day activation.

The marketing storm involved road shows, town hall meetings and courtesy calls to the local leadership.

A 40 foot branded truck made several stops at Voi, Taveta, Wundanyi, Bamburi, Bura, Matuga, Bombolulu, Msambweni, among others, sensitizing members of the public.

Radio presenters affiliated to Radio Maisha were on the ground to educate members of the public on the Authority’s mandate. They emphasized the need for the public to find out whether they have been listed on UFAA’s database by using the short code *361#.

Besides, Community radio stations of Mwanedu FM and Kwale Ranet FM were also engaged to reinforce the awareness campaign.

Data available with the Authority shows that residents of Mombasa, Kwale and Taita Taveta counties collectively have unclaimed assets amounting to over Ksh. 400 million being held by the Authority.

Chief Executive Officer John Mwangi said in an interview with local media that the campaign is an initiative to fulfil brand visibility, outreach and stakeholder engagement objective spelt out in the Authority’s strategic plan 2018-2023.

The outreach campaign is expected to spread out to the rest of the country in the coming days.

While launching the campaign, CEO John Mwangi said that the authority has been on the forefront to ensure compliance by the holders of unclaimed financial assets through issuance of surrender notices and instituting the necessary structures, systems and procedures to guide the process.

“To ensure completeness and correctness of the reports we receive from holding institutions, we have instituted compliance audits in a number of institutions to ensure sound regulatory framework amongst the holding institutions as envisaged in the Act,” said Mwangi

Meanwhile speaking during a dinner hosted by UFAA for stakeholders in Mombasa, Mwangi said that a recent baseline study commissioned by the Authority has estimated unclaimed financial assets in the market to be Ksh. 241 billion and being held by nearly 480,000 holders.

“Those numbers tell a story – one that shows the herculean task we have as an Authority. But I hasten to add – the Authority seek your partnership and collaboration from both the holders and rightful owners to deliver on its mandate,” he said.

The dinner attracted stakeholders from government representatives, insurance, banking and Sacco sectors.

Coast regional commissioner John Elungata officiated the event.

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Unclaimed Financial Assets Authority,
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P.O Box 28235-00200, Nairobi, Kenya.
Phone: 020 4023000, 0706866984, 0736559152
Email: info@ufaa.go.ke

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